This course covers the functionality of IFS/Project Reporting, showing you how to handle the reporting, invoicing, and accounting processes of a project. You will
also learn how to set up a basic project structure and how to perform efficient follow-up on a project.
The estimated time to complete the entire course is 2 days (this includes the basic data and requirements (BDR) lessons). Each lesson should take between 30 minutes and 1,5 hours.
The estimated time to complete the Basic course is 1 hour and 45 minutes.
The estimated time to complete the Intermediate course is 9 hours.
The estimated time to complete the Advanced course is 3 hours.
This course is designed primarily for Project Managers, Project Members, and Project Financial Administrators. The target audience for each chapter is indicated below.
This chapter presents an overview of the IFS/Project Reporting process, which will prepare you for all lessons of the course. In particular, you will be introduced to the principles and key terms used in Project Reporting, which will help you understand the functions inherent in this process and how they can be used to increase efficiency and profitability. After finishing the course, you should be able to relate the terms and principles to processes in your own organization.
The Project Reporting main process consist of the following processes:
- Reporting Functions
- Invoicing
- Accounting
- Follow-Up
Please take your time and read through this course description before you begin with the lessons.
The estimated time to complete this Basic part is 45 minutes.
The first lesson of the Basic Data and Requirements chapter is Report Codes (the other lessons, Project Pricing and Accounting, are described below).
The Report Codes lesson gives you the basis for starting working with Project Reporting. Report codes are easy to use and can simplify the pricing process. Using report codes allows you to do follow-up at the report code level.
By the end of this lesson, you should know how to:
- Register report codes.
- Connect report codes to activities.
- Use report code groups and report code translations.
Before starting the lesson in this chapter, you should have a basic knowledge of how to work and navigate in IFS Applications.
The estimated time to complete this Intermediate part is 45 minutes.
This chapter is designed for Project Managers and Project Financial Administrators.
This chapter presents four different lessons—one key lesson and three extended lessons:
- Reporting Functions (key lesson)
- Project Transactions
- Forward Supplier Invoice
- Forward Material Withdrawal
The first lesson, Reporting Functions, provides the information you need to create different project transactions. These transactions helps you keep track of the time and cost reported on a project. The transactions can be used for invoicing and follow-up purposes.
By the end of this lesson, you should be familiar with:
- Project time registration
- Project cost registration
The second lesson, Project Transactions, outlines the importance of project transactions and shows you how to handle the registration and the different aspects of a project.
By the end of this lesson, you should know:
- What project transactions are.
- How you can modify a transaction.
- Available funtions in the Project Transactions window.
The third lesson, Forward Supplier Invoice, shows you how to distribute the costs of a supplier invoice to one or more project activities. This creates project transactions that can then easily be invoiced to the customer.
By the end of this lesson, you should know:
- How to get create project transactions directly from a supplier invoice.
The fourth and last lesson in this chapter is Forward Material Withdrawal. This function offers a seamless integration with IFS/Inventory, which lets you easily issue articles from inventory and create project transactions. The function also allows you to follow up on projects costs.
By the end of this lesson, you should know:
- How to create project transactions from material (articles) that is issued from inventory.
Before starting the lessons in this chapter, you should have a basic knowledge of how to work and navigate in IFS Applications.
The estimated time to complete this Intermediate part is 1 hour and 35 minutes.
This chapter is designed for Project Managers and Project Financial Administrators.
This chapter presents two lessons—one key lesson and one extended lesson.
Project Invoicing is the key lesson. It shows you how to create invoices based on reported transactions.
By the end of this lesson, you should know how to:
- Create a project invoice.
- Release a project invoice.
- Add transactions to or remove transactions from a project invoice.
- Print a project invoice.
The other lesson is Advanced Invoicing. In this lesson, you will get familiar with processes such as invoicing plans and batch invoicing. Invoicing plans allow you to handle fixed-price invoicing in a flexible manner. Batch invoicing lets you create multiple invoices in one operation. You will also learn how to create several plans by using the Invoicing Plan wizard.
By the end of this lesson, you should know how to:
- Create invoicing plans.
- Use batch invoicing.
- Define a maximum invoice amount.
- Credit invoices.
Before starting the lessons in this chapter, you should have a basic knowledge of how to work and navigate in IFS Applications.
The estimated time to complete this Basic part is 45 minutes.
The estimated time to complete this Advanced part is 1,5 hours.
This chapter is designed for Project Managers and Project Financial Administrators.
This chapter presents only one lesson, Project Reporting Follow-Up. This functionality offers a comprehensive overview of a project, which allows you to measure the progress of that project and identify potential problems.
By the end of this lesson, you should know:
- How to perform follow-up in different projects.
- In which ways you can verify that a project is going according to plan.
Before starting the lesson in this chapter, you should have a basic knowledge of how to work and navigate in IFS Applications.
The estimated time to complete this Intermediate part is 1 hour.
This chapter is designed for Project Managers and Project Financial Administrators.
This Project Pricing lesson is part of the Basic Data and Requirements chapter.
You will have a great variety of possibilities when setting up project pricing. When you set up project pricing, you can choose a level of detail that is as general or specific as you like. To automatically get a price on project transactions, you have to set up a price list.
By the end of this lesson, you should know how to:
- Define internal prices (the internal cost).
- Define sales prices (the price on the invoice).
- Define price adjustments.
- Set up margins for:
– Travel expenses
– Supplier invoices
– Material withdrawals
Before starting the lesson in this chapter, you should have a basic knowledge of how to work and navigate in IFS Applications.
The estimated time to complete this Intermediate part is 1,5 hours.
This chapter is designed for Project Managers and Project Financial Administrators.
This chapter presents two extended lessons:
- Project Cost Accounting
- Project Work in Progress
The first lesson, Project Cost Accounting, shows you how to accurately monitor the financial progress of a project. This integration with your financial system will help you reduce time needed for administrative tasks.
By the end of this lesson, you should know:
- How to create cost accounting for a project.
The second lesson, Project Work in Progress, provides you with data that makes the balancing of the books more accurate. For example, accurate income is automatically calculated even if invoiceable transactions have not been invoiced.
By the end of this lesson, you should know:
- How to use the Work in Progress functionality to calculate the accrued income of a project.
Before starting the lessons in this chapter, you should have a basic knowledge of how to work and navigate in IFS Applications.
The estimated time to complete this Advanced part is 1,5 hours.
This chapter is designed for Project Managers and Project Financial Administrators.